Why I'm Never Taking Social Security At Age 65

What does Break even mean ?

Ill be taking mine at 62.
To many variables after 62 andbi dont need it

Ima truck driver im out at 62. In 5 months. Hell to the no...im not dealing with the danger of the job any more!!!!!

They don't just take$1 for every $2 you make still working and it's gone forever. They add it back to your benefit incrementally at full retirement age,no?

All government knows how to do is penalize you, and make your life more difficult.

Social security is betting that you will take the risk of waiting until age 70. Tomorrows is never promised thats a big financial risk!

My father died at 70 due to heart conditions and diabetes after working all his life until 65 years old. At 56 years, I had a quadruple bypass, and I also have Diabetes. I am not taking chances and filed for SS disability which I hope to get approved because I can no longer do what I used to do. I say live your life before it's over.

The government wants you to wait before collecting. What else do you need to know?

!!!!!!!!!!!!!!!!!!!!!!!!!!! Thanks for sharing!!!!!!!!!!!!!!!! :)

I didn’t need it, but the wife wanted the money now. She saves more money each month than my social security check. She was widowed at 24, and was allowed to pick between her first husband’s Social Security , or my Social Security, if she were divorced. We were able to divorce in a week. Life is good!

Its not likely you'll live until your 90's at all. The Life expectancy for a U.S, Male is down to 78.

You don’t make a profit from that scheme till way into your 70’s I take money and run with my youth and knock wood Health

Honestly if you check your Social Security statement check how much money they had taken from your paychecks all those years. As soon you take SS they start returning your money otherwise you can die and you never not even get the money they took from you… all this guys promote scam … if you take money later you will make a little bit more money but you have to pay more taxes and pay for your health because you will be to old to enjoy life…

Guy i worked with retired at age 67 and died at 72; he missed out on collecting 5 years.

I’m pretty sure that Social Security starts automatic cuts in 2032 if Congress doesn’t act to fund it. The first cut will be 25% to all recipients. The second cut will come a year later.

It is health. The government wants you to get it later because they are betting that you die. I am getting at 62. I see the old folks a higher Parkinson in this century and increasing. It is going to be the pandemic of next decade.

Not sure where you are getting your data?
It's NOT likely we will live into our 90's, the U.S. Average life expectancy is 76.4

My mom retired at 59, died from brain cancer at 65. Take your ss when you want.

Something you did not say....what if you pass away before your full retirement age?

What is considered taxable income for SS? Is it only wage income?

My Father Died at 70 my brother at 72. I retired at 65 and 9 months. how long will I live, the later I wait the shorter my retirement will be, this is why they moved my retirement date to 66.5. my Brother went on disability at 55 years old. he had a good retirement of 17 years.

THIS ONLY IF YOU HAVE ENOUGH INCOME TO LIVE ON OR RICH PEOPLE LIKE YOU AND WOULD NOT APPLY TO MAJORITY OF PEOPLE BECAUSE MOST PEOPLE NEED AS MUSH AS INCOME SO THEY CAN MEET THEIR NEEDS.

"Mean total life expectancy was highest among executives and managers (73.2 (95% confidence interval (CI): 70.3, 76.1) years), next highest in clerical (white collar) workers (72.0 (70.0, 74.1) years), and lowest in unskilled blue collar workers (63.65 (61.1, 66.2) years)".

Just some consideration. Overall, the MAJORITY are getting the shaft on this.

Your going to work an extra 5 yrs to get another 200 buck a month?? Going to lose that 1500 a month for five yrs?? Wake up. Get your money as fast as you can, you can still earn. The only ones that want you to wait is the government.

This guy doesn't know what he's talking about. I retired at 62 and I'm investing it and make more.... the sooner the better healthy or not... I'm very healthy but IDC I want to enjoy life. I know a lot of people who died at 62 so just don't listen to this person.

You don't explain that you don't permanently forfeit that money.

I think you need to look pretty hard at the opportunity cost of forgoing Social Security for multiple years. You invest that income monthly in a reasonable portfolio and have a very good chance of doing better than you would by waiting.

I'm hoping to wait until I turn 67. My "full" benefit is 66 years & 10 months. Happily I planned 40 years ago to not rely on Social Security as being viable in my retired years. So I socked a lot into 401(k) and, later, 457(b) as a municipal employee. Glad I did. I retired at 62 and have been coasting on savings and a couple annuities. On the other hand, we haven't had an overnight vacation in 18 years, but we do eat off the gardens, have venison from the back hill, and lots of eggs (and occasional chicken). You makes your choices and you live with them.

What about the growing concern and notifications that Social Security benefits will be gone is 3-6 years? Do you take it now to get the extra money until it runs out or pray that people stop voting demorat and we get our country back?
The dems have been robbing everything including SS and giving it to illegal aliegns.

I wouldn't take it at 65 either. I'm waiting until FRA of 66/10 months. I want that 100% of what I'm entitled.

I take it when 63. you never know tomorrow

Medicare was the least of my considerations when I chose to retire. By far the largest one was my health; Most of my medical problems were stress related, and I worked a job (IT Filed Support for a Fortune 100 electric company) that had us on call 24/7/365 for the full 34 years. My younger body could handle it but by age 65 I had been treated for hypertensive crisis (BP 298/140something) and was in the ER waiting to find out if I was going to have emergency brain surgery.

To each their own, but don't let money be any more of a motive than it has to be.

That a laugh waiting till age 70.. by that time.. ur only gg to get 60% of what’s due u anyway.. cause now we have to pay for immigrants who come here illegally and never put one dime into the soc sec system to begin with.. seems fair… right? WTH?

Taking your SSI at 65 is surety you may not like to see 70and if you do get to 70you may have 10 more years so people you will get more to the end

Factor #1 Perform the math at 62| 65 | 70. +COLA. Factor #2 Your Family health history. Factor #3 Average Life Span. (Speaker did not include COLA). Your Data= AGE+COLA+ACTUARIAL=ODDS=Decision

If you take social security at 62 but work a full time job making say $50k, then your Social Security benefits will be reduced to zero. But keep in mind, they are not "Lost" like you are implying. You will get them paid for the next 5 years AFTER 67. In other words, after 67, you will not only get the regular Social Security payment but also the withheld amount for the next 5 years.

Take into account that the Life Expectancy today is for Males: 73.5 years and for Females: 79.3 years. So, to maximize my SS check I will work till to 73.4 years and enjoy one - two month of my life.

Life is short, retire early is better than later in life. Everyone has health issues. Enjoy while you still have the energy. The retirement age was a set up to benefit the government not you.

The reductions at 62 are recovered after FRA.

Hey Keith, at age 70 or 71 can I receive S.S. retirement and still work earning over 30k to 100k a year in california?
What happens if I move out of california? Thank you sir.

View from a different angle. If I delay retiring from 62 to 67 I will get an additional $700 per month at 67. In other words, in the future I will be paid $700 per month to work 5 more years. Sounds like a crappy deal. - This past year I lost 2 aunts, they were 69 and 71. Almost lost a sister in-law this past weekend at 71. Her future is in doubt due to recently discovered cancer with chemo starting next week. She was very active and waited until 67 to retire. She got 4 years of a mobile, independent retired life.

I’m taking ss at 62 . I’ve worked my whole life and it’s time to back off . I’ve paid off both my houses and vehicles and have no loans . Tomorrow is not promised I’m not working to 70 just to get a few hundred extra a month . You might as well plan on working then dying with no enjoyment because you’ll either be dead or to old to enjoy life

Up to 85% can be taxed. Not 85% tax

How about this one !
I tuned 62 12/23/1961.
I signed up for SSI being eligible January 2024.
Not only did they skip January’s payment but they scheduled my first payment to be on the fourth Wednesday of every month therefore not only did I miss January’s payments but all of February’s payments, because the fourth Wednesday of February falls on the end of the month of February !
What a crock of Chit ?

62 best date. If you pass you get zero? Ssi bets you wait so you die and get zero

Did you address how if you take before full retirement age and go over income limit social security takes back some of your payment BUT once turn full retirement age what they took comes back to you. Please respond and address this… they just don’t take it and you lose it forever..